It's the only way I've made bread for over 15 years. I find it dead easy, much easier than using yeast.
I make my starter by combining wholemeal flour with water (about half and half) until it's bubbly (a couple of days usually). If too much water rises to the surface, I add a bit more flour. I then make a small loaf, as the first one is usually a bit ropey. The starter then keeps in the fridge for ages if necessary
To make the bread, I take the starter and put it in a bowl with a mix of flour and warm water to activate it (if it's been in the fridge). After a few hours, when it's all bubbly, I use half of it to make the bread, keep the other half in the fridge for the next time.
My standard bread recipe is flour, enough water that I can mix it with a wooden spoon, salt and starter. If I want a firmer loaf, I gradually add flour until it's firm enough to hold it's shape, but if I'm happy to make something shapeless like a focaccia, I just leave it at that.
Leave to rise for a few hours, then shape and bake.